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Instructions to the User Adjust the following fields highlighted in: Grey - origination loan characteristics and the borrower(s)' updated income information. Yellow - variable terms such as the current Freddie Mac Weekly Mortgage rate or assumptions driving the model. Blue - These calculations are provided but may be adjusted by the user. Note on automatically calculated fields: The spreadsheet automatically calculates the current mortgage payment based on the origination balance, interest rate, and term. This may not be the current monthly mortgage payment, user should adjust accordingly. The spreadsheet estimates escrow based on average property tax per state. User should adjust accordingly. The spreadsheet estimates months to foreclosure and costs based on state averages. User may adjust per portfolio or industry data. Alter Highlighted Terms for Interactive NPV Analysis Present Value of Modification Program Parameters Current Freddie rate Program interest rate floor Affordable DTI level Modified Payment Interest Rate at 30 Year Term Interest Rate with 40 Year Term 5.4% 3.0% Loan origination information and current status Original Loan Amount $300,000 Original Amortization Term 360 Original Interest Rate Interest only loan (Y/N) Current UPB Current Rate Remaining Term Months past due Property state Advances/Escrow Current Monthly Mortgage Payment Current Interest Payment Current Principal Payment Past Due Interest UPB Adjusted for Accrued Interest and Escrow Borrower status Monthly Income* Monthly Taxes and Insurance Modified Loan Terms Required to Achieve Modified Payment UPB adjusted for Accrued Interest and Escrow 7.000% $200,000 7.000% 330 3 AZ Equal to Cell B30 Maximum of the required interest rate at a 30 or 40 year term or program floor. 3.63% Modified Payment Modified Loan Term Modified Full Am Payment Difference from Affordable Payment Principal Forbearance PV Reduced Cash Flow $983.17 330 $983.17 Calculations required to $0.00 determine amount of principal $0.00 forbearance ($15,944.67) $306 $1,750.00 $1,750.00 $0.00 Calculates P&I or IO payment based on original loan terms, user may adjust this field. $4,667 Valuation Given Redefault After Modification Redefault Rate Months to Redefault Assumptions specific to the property location and borrower/loan characteristics. -4% User must supply these inputs. 40% 3 Home Price Appreciation Forecast (from current date) $204,972 Future Interest and Advanced Escrow REO Value PV Estimated Loss $3,500 $102 $ $ Value of Modification Modification Value Benefit from Modification Foreclosure Scenario UPB Adjusted for Accrued Interest and Escrow Current Value Home Price Appreciation Forecast REO Stigma Discount Months to Foreclosure Sale Months to REO sale $204,972 Modified Rate Borrower and loan information Y 31% $983.17 3.6% Remaining amortization term used for modifica 4.8% $204,972 $200,000 -5% 20% Assumptions specific to the 1 property location. User must 5 supply these inputs. 6,665 139,955 ($61,321) ($34,095) $16,941.95 NPV Test (Pass/Fail) Pass Modification Terms % Difference from Original Payment Borrower Payment after months: -43.8% 1 $983.17 Foreclosure & REO Disposition Costs $6,980 60 $1,081.61 10.0% Future Interest and Advanced Escrow REO Value Zero Cure PV Loss $1,805 $143,215 ($60,044) 72 84 96 $1,157.63 $1,157.63 $1,157.63 7.0% 0.0% 0.0% 108 $1,157.63 0.0% Cure Rate 15% Assumption specific to the loan and borrower. User must supply this input. PV Probability Wtd Loss ($51,037) for modification Ammortization Schedule 5 of 21 Modification scenario Principal forebearance - reduce UPB by forebear amount rate term 3.6336% UPB adjusted for cashflow principal forbearance month Rate 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 ($204,972.17) $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $204,972.17 204,609.66 204,246.06 203,881.35 203,515.55 203,148.63 202,780.60 202,411.46 202,041.20 201,669.82 201,297.31 200,923.68 200,548.92 200,173.02 199,795.98 199,417.80 199,038.48 198,658.00 198,276.38 197,893.60 197,509.66 197,124.56 196,738.29 196,350.85 195,962.24 195,572.45 195,181.48 194,789.33 194,395.99 194,001.46 330 NPV 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% ($15,944.67) Ammortization Schedule 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 6 of 21 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $983.17 $1,081.61 $1,081.61 $1,081.61 $1,081.61 $1,081.61 $1,081.61 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 193,605.74 193,208.81 192,810.69 192,411.36 192,010.82 191,609.06 191,206.09 190,801.90 190,396.49 189,989.85 189,581.98 189,172.87 188,762.52 188,350.93 187,938.10 187,524.01 187,108.68 186,692.08 186,274.22 185,855.10 185,434.70 185,013.04 184,590.10 184,165.87 183,740.37 183,313.57 182,885.48 182,456.10 182,025.41 181,593.42 181,160.13 180,778.04 180,394.48 180,009.43 179,622.90 179,234.88 178,845.36 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 10.0% Ammortization Schedule 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 7 of 21 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $1,081.61 $1,081.61 $1,081.61 $1,081.61 $1,081.61 1,081.61 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 178,454.34 178,061.80 177,667.75 177,272.18 176,875.08 176,476.45 176,112.96 175,747.85 175,381.08 175,012.67 174,642.60 174,270.87 173,897.46 173,522.37 173,145.60 172,767.12 172,386.95 172,005.06 171,621.46 171,236.13 170,849.07 170,460.26 170,069.71 169,677.39 169,283.31 168,887.46 168,489.83 168,090.41 167,689.19 167,286.16 166,881.32 166,474.66 166,066.17 165,655.84 165,243.67 164,829.64 164,413.74 0.39% 0.39% 0.39% 0.39% 0.39% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 7.0% 0.0% 0.0% Ammortization Schedule 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 8 of 21 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 163,995.98 163,576.33 163,154.80 162,731.37 162,306.03 161,878.78 161,449.61 161,018.51 160,585.47 160,150.47 159,713.52 159,274.61 158,833.72 158,390.84 157,945.97 157,499.10 157,050.22 156,599.32 156,146.39 155,691.43 155,234.41 154,775.34 154,314.20 153,850.99 153,385.69 152,918.30 152,448.80 151,977.20 151,503.47 151,027.61 150,549.60 150,069.45 149,587.14 149,102.65 148,615.99 148,127.13 147,636.08 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.0% 0.0% Ammortization Schedule 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 9 of 21 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 147,142.81 146,647.33 146,149.62 145,649.66 145,147.46 144,643.00 144,136.26 143,627.25 143,115.95 142,602.34 142,086.42 141,568.19 141,047.62 140,524.70 139,999.44 139,471.81 138,941.81 138,409.42 137,874.63 137,337.44 136,797.83 136,255.80 135,711.32 135,164.40 134,615.01 134,063.15 133,508.81 132,951.97 132,392.63 131,830.77 131,266.38 130,699.45 130,129.97 129,557.93 128,983.31 128,406.11 127,826.31 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% Ammortization Schedule 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 10 of 21 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 127,243.91 126,658.88 126,071.21 125,480.91 124,887.95 124,292.31 123,694.00 123,093.00 122,489.29 121,882.87 121,273.71 120,661.82 120,047.17 119,429.75 118,809.56 118,186.58 117,560.79 116,932.19 116,300.76 115,666.48 115,029.36 114,389.36 113,746.49 113,100.72 112,452.05 111,800.45 111,145.93 110,488.46 109,828.03 109,164.63 108,498.24 107,828.86 107,156.46 106,481.04 105,802.58 105,121.06 104,436.48 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% Ammortization Schedule 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 11 of 21 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 103,748.82 103,058.06 102,364.19 101,667.21 100,967.08 100,263.81 99,557.37 98,847.75 98,134.94 97,418.92 96,699.68 95,977.20 95,251.47 94,522.47 93,790.20 93,054.63 92,315.75 91,573.54 90,828.00 90,079.09 89,326.82 88,571.17 87,812.11 87,049.64 86,283.74 85,514.39 84,741.57 83,965.28 83,185.50 82,402.21 81,615.39 80,825.04 80,031.12 79,233.63 78,432.56 77,627.88 76,819.58 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% Ammortization Schedule 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 12 of 21 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 76,007.64 75,192.05 74,372.78 73,549.84 72,723.18 71,892.81 71,058.70 70,220.84 69,379.21 68,533.79 67,684.56 66,831.51 65,974.63 65,113.89 64,249.27 63,380.77 62,508.36 61,632.02 60,751.73 59,867.49 58,979.27 58,087.05 57,190.81 56,290.54 55,386.23 54,477.84 53,565.36 52,648.78 51,728.07 50,803.22 49,874.21 48,941.02 48,003.62 47,062.01 46,116.17 45,166.06 44,211.68 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% Ammortization Schedule 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 13 of 21 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 43,253.01 42,290.02 41,322.70 40,351.02 39,374.98 38,394.54 37,409.69 36,420.40 35,426.67 34,428.46 33,425.76 32,418.55 31,406.81 30,390.51 29,369.64 28,344.18 27,314.10 26,279.39 25,240.02 24,195.97 23,147.23 22,093.76 21,035.56 19,972.59 18,904.84 17,832.29 16,754.91 15,672.68 14,585.58 13,493.58 12,396.68 11,294.84 10,188.04 9,076.26 7,959.47 6,837.66 5,710.81 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% Ammortization Schedule 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 14 of 21 $ $ $ $ $ 1,157.63 1,157.63 1,157.63 1,157.63 1,157.63 $ $ $ $ $ 4,578.88 3,441.86 2,299.72 1,152.44 - 0.45% 0.45% 0.45% 0.45% Ammortization Schedule 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 15 of 21 Ammortization Schedule 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 16 of 21 Ammortization Schedule 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 17 of 21 Ammortization Schedule 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 18 of 21 Ammortization Schedule 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 19 of 21 Ammortization Schedule 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 20 of 21 Ammortization Schedule 585 586 587 588 589 590 591 592 593 594 595 596 597 598 599 600 21 of 21
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